LATEST: ⚡ SkyBridge Capital founder Anthony Scaramucci is backing a new Nasdaq-listed Avalanche treasury company, where he will lead the strategic advisory board as it aims to acquire over $700 million worth of AVAX.
AgriFORCE Growing Systems (AGRI) announced today its plans to raise ~$550M to establish the first NASDAQ-listed company with a dedicated AVAX strategy. To bootstrap its AVAX accumulation strategy, AGRI will use a portion of the cash proceeds raised to purchase locked AVAX from the Avalanche Foundation. Purchased tokens are subject to a long-term lock-up schedule that permits staking and other uses.
The cash proceeds received by the Foundation will be strategically deployed to support ecosystem growth, including investments in RWAs, purchases of AVAX and AVAX DAT shares. The Avalanche Foundation remains committed to using its treasury to advance adoption and long-term sustainability.